A decision by the European Central Bank to cap the amount of emergency funding left Athens with little choice but to introduce capital controls. On Sunday, central bank chiefs from around the euro ... more&nbsp

A decision by the European Central Bank to cap the amount of emergency funding left Athens with little choice but to introduce capital controls. On Sunday, central bank chiefs from around the euro zone and the ECB's executive, decided to freeze the limit on the emergency funding lifeline Greek banks rely on to pay out to savers. After the government moved to check the growing strains on its crippled financial system, the lines at the Greek bank ATMs grew longer and longer in the early hours of Monday. Banks are expected to be closed all next week with a daily 60 euro limit on cash withdrawals from cash machines, which will reopen on Tuesday. Capital controls are likely to last for many months at least. The Athens stock exchange will also be closed as the government tries to manage the financial fallout of the disagreement. The Greek cabinet met shortly after the decision to close the banks was announced by Prime Minister Alexis Tsipras. less&nbsp